Columbus, OH – In a new policy memo, The Buckeye Institute has put forth recommendations to tackle the increasing need for classroom space in private and charter schools in Ohio. Greg R. Lawson, a research fellow at The Buckeye Institute, suggests specific actions in the memo, such as authorizing the state treasurer to implement financial programs for non-district schools.
Lawson, in the policy memo, emphasized the importance of implementing programs to support non-district schools, stating, "authorize the state treasurer to make linked deposit programs and a loan guarantee program available to non-district schools." Additionally, he highlighted the significance of ensuring classroom space for every student in every family in every community in Ohio.
With the success of Ohio's EdChoice program and the rising demand for vouchers, there is a pressing need to address the shortage of classroom space in private and charter schools. Lawson's proposal aims to make financing classroom construction more affordable for these schools. By utilizing linked deposit programs and loan guarantee programs, non-district schools can expand their facilities to accommodate the increasing student population.
The Buckeye Institute's recommendation includes utilizing state set-aside funds to create a revolving loan program for non-district schools, providing low or no interest loans for classroom expansion. Lawson also suggested offering low-cost financing options through linked deposit programs, similar to existing programs like AG-Link and Grow-Now. Additionally, creating a loan guarantee program for non-public schools, akin to the Ohio Capital Access Program and the Collateral Enhancement Program, could further alleviate capacity constraints at non-district schools.
As Ohio aims to empower families in choosing suitable education providers for their children, ensuring adequate classroom space is essential. The proposed financial initiatives by The Buckeye Institute can help non-district schools access the necessary capital and affordable financing to expand their facilities, ultimately meeting the growing student demand across the state.